Iondrive Limited · ASX:ION
Iondrive — Southern Gold — Noosa Mining Conference Online 2020
18 slides from Iondrive's conference presentation, Nov 11, 2020
Slide 1: Precious Metals in South Korea
SOUTHERNGOLD PRECIOUS METALS IN SOUTH KOREA SOUTHERNGOLD Noosa Mining Conference Online 2020 Drilling at Weolyu Project, South Korea, September-October 2020 11-13 November 2020 ASX Ticker: SAU
Slide 2: Disclaimer
SOUTHERNGOLD Disclaimer Forward-looking statements The information in this presentation is published to inform you about Southern Gold Limited (“Southern Gold”) and its activities. Some statements in this presentation regarding estimates or future events are forward looking statements. These may inc
Slide 3: A Unique Country Play
SOUTHERNGOLD A Unique Country Play South Korea Au +/- (Ag) The keys: 1. Geology 2. People 3. Jurisdiction 4. Drilling 5. Funding 3
Slide 4: Geology: South Korea, Tectonic Continuum with China and Japan
SOUTHERNGOLD Geology South Korea, Tectonic Continuum with China and Japan ❑ World class Au deposits in China Jiaodong Peninsula orogenic Au e.g. Xiling Deposit (17.7Moz Au) ❑ World class Au deposits in Japan Kyushu Island, epithermal Au e.g. Hishikari Deposit (>10Moz Au) ❑ Huge discovery potential d
Slide 5: Geology: Gold production in South Korea is largely in the past
SOUTHERNGOLD Geology Gold production in South Korea is largely in the past…. ❑ In pre-modern times Korea and Japan were well recognised sources of gold in the far east ❑ Gold mining occurred during Japanese occupation and in 1960-70’s ❑ Doug Kirwin (and team) explored in 1980-1990’s with Lighthouse
Slide 6: People
SOUTHERNGOLD People Bonanza gold & silver was mined at Eunsan by Ivanhoe prior to focusing on Mongolia Eunsan Trench 1 Eunsan Mine, 2002 Eunsan Mine (closed) and plant, 2019. Currently mining Moisan 3.61m @ 603.64g/t Au & Slot open pit on bonanza zone and Gasado Island, also Ivanhoe discoveries. 426
Slide 7: Jurisdiction
SOUTHERNGOLD Jurisdiction 70km2 secure tenure in good jurisdiction (and growing) ❑ Tenure registered in online database, mining code, detailed regulatory system ❑ 0% government royalty, 25% corporate tax rate, extensive infrastructure, manufacturing ❑ Government funding available (e.g. KORES) 7
Slide 8: Drilling
SOUTHERNGOLD Drilling Drill Operations relatively unimpacted by COVID19 Aphae Assays Received – high grade gold intercepted, wide low grade in breccia Shin Adit, Deokon – Narrow intercept Weolyu – Drilling in progress Dokcheon – Drill pending Aphae Round 2 drilling shortly Drill Pipeline Direct diam
Slide 9: Drilling: Aphae
SOUTHERNGOLD Drilling: Aphae • Au grades returned in all scout drill holes • Petrological study completed with conclusion the mineralised fluids are epithermal in nature – albeit an unusual deposit for this type • Drone aeromagnetic survey to be done by Korean Institute of Geoscience and Mineral Res
Slide 10: Aphae – A Broader Context
SOUTHERNGOLD Aphae – A Broader Context >9g/t Au in rock chips >1.6km away Koryong Clay Mine >1km away See ASX Release 12th August 2020: High Grade Gold in Maiden Drilling Program at Aphae and Quarterly Report 30 September 2020 10
Slide 11: Drilling: Weolyu
SOUTHERNGOLD Drilling: Weolyu Southern Shoot 330 Level – 25m strike at avg. 0.44m vein thickness @ 13.1 g/t Au & 522 g/t Ag Southern Shoot 310 Level – 30m strike at avg. 0.42m vein thickness @ 8.3 g.t Au & 193 g/t Ag • Drilling impacted by 2 typhoons (~10 day delay) • Two holes complete • WUDD008 –
Slide 12: Drilling: Dokcheon
SOUTHERNGOLD Drilling: Dokcheon • Recent and historical sampling reporting gold up to 6.89g/t gold and anomalous arsenic and manganese • Interpreted high-level in the epithermal vein system • Quartz Textures: Bladed quartz pseudomorphs, chalcedonic, weak colloform banding • Alteration: Argillic • Ve
Slide 13: Funding
SOUTHERNGOLD Funding Ordinary Shares 213.3m Share Price (10 November 2020) AUD$0.12 Market Capitalisation AUD$25.6m A$10.2m placement @ A$0.12/share announced Cash ~AUD$11m# Debt Nil Enterprise value (EV) AUD ~AUD$15m EV USD (US$0.725 fx rate) ~USD$10.9m Placement approved EV CAD (US$0.764 fx rate)
Slide 14: Funding: JV Interest Sale Process
SOUTHERNGOLD Funding: JV Interest Sale Process Southern Gold Ltd (ASX) Bluebird Merchant Ventures Ltd (LSE) Enterprise Value ~US$11m# Enterprise Value ~US$26m# >SAU x3 100% Sale Process Current* 50% International Gold (IGPL) 50% [Singapore subsidiary] Gubong Project Kochang Project JV Co Ltd JV Co L
Slide 15: All Key Ingredients
SOUTHERNGOLD All Key Ingredients Southern Gold: The next ✓ Geology drill hole: Dokcheon, set up on 6 ✓ People November. ✓ Jurisdiction ✓ Drilling The Korean team: a key ingredient! ✓ Funding 15
Slide 16: Our Peers
SOUTHERNGOLD Our Peers North Asia Gold Play World class Au deposits in World class Au deposits in Kyushu, Jiaodong Peninsula, China Japan e.g. Xiling orogenic Au deposit e.g. Hishikari epithermal Au deposit (>17Moz Au, recent discovery) (>10Moz Au, discovery pre 2009) Southern Gold (SAU.AX) Irving R
Slide 17: News Pipeline
SOUTHERNGOLD News Pipeline Funded to complete diamond drilling programmes across the portfolio in 2021 and 2022 ❑ Drilling results at Weolyu (SAU 100%) 2020Q4 ❑ First pass scout drilling at Dokcheon (SAU 100%) 2020Q4 ❑ Follow-up drilling at Aphae (SAU 100%) Winter 2020-21 ❑ First pass scout drilling
Slide 18: Contacts
SOUTHERNGOLD Contacts Simon Mitchell Managing Director Office: +61 8 8368 8888 smitchell@southerngold.com.au info@southerngold.com.au Web Address: www.southerngold.com.au Physical Address: 10 George Street Stepney, South Australia 5069 Australia Postal Address: PO Box 255 Kent Town SA 5071 18